Data processing systems have heretofore been utilized by the travel services community for air and hotel reservations for both the infrequent traveller and the traveller whose business needs dictate nearly continuous travel. The airlines, through their frequent flyer programs, cater to the special needs of the business community and utilize data processing systems to monitor travel usage to accurately track the benefits which accrue to the frequent traveller.
Such data processing systems monitored clients' travel usage over time at most to only a very limited extent. For example, an airline reservation data processing system typically does not monitor a client's travel usage over time at all. Although the frequent flyer related data processing systems monitor travel usage to a limited extent, such systems do not, for example, monitor a participant's cumulative travel usage over a predetermined time while analyzing frequency of use and cost of travel variables to authorize or deny travel request. Moreover, none of these data processing systems monitor and control a client's travel usage as a function of a client's carefully monitored investment base.
Prior art financial management data processing systems are typically first utilized when a client delivers funds to a brokerage house for investment. For example, the securities brokerage-cash management system described in U.S. Pat. No. 4,326,422, while monitoring and controlling a wide range of investments is concerned solely with a data processing system whose action is initiated when an investor directs funds to the cash management system.
The present invention, besides operating in a manner totally distinct from the aforementioned travel monitoring data processing systems and the system described in U.S. Pat. No. 4,346,442, uniquely combines data processing activities that are not normally associated with each other. In this regard, the present invention monitors the growth of a participant's travel services investment account and performs required reservation and ticket purchasing tasks. In doing this, the invention further tracks the cumulative usage of travel services of each participant as a function of the cumulative growth of the participant's initial investment to ensure that the travel services utilized remain within the constraints built into the system. If the services remain within system constraints, the participant is ensured of receiving at least a predetermined minimum return on his initial investment base. As will be explained in further detail below, the system constraints serve to provide the participant with a predetermined guaranteed investment return while at the same time, protecting against participant fraud, misuse, or exploitation of the client's account by the client himself or any other third party.
The present invention provides a data processing method and apparatus for managing and tracking air travel and associated hotel/transportation accommodations with minimum inconvenience to the client, while monitoring the growth of funds in a client's travel-supporting, initial investment base. The air travel system of the present invention requires an initial investment by the client which allows the client to travel with minimum restrictions over the course of a preselected timeframe. This initial investment is carefully monitored by the system and, when the time period has elapsed, a significant return on the initial investment will be available for the client, commensurate with the timeframe selected, provided that the minimum restrictions on travel usage have been followed. By way of example only, the range of initial investment may be from $10,000 to $60,000 and the preselected time frame may be from 5 to 20 years. Depending, of course, on the available interest rates, the return on the initial investment over such a time frame may, for example, be from 50-75%. It should be apparent that other ranges of initial investment amounts, timeframes, and rates of return are also contemplated by the present invention subject to system constraints identified hereinafter. Additionally, the present invention contemplates associating borrowing, checking writing privileges as well as insurances benefits with a participant's investment account.
In operation, the air travel data processing system of the present invention makes reservations for air travel and, if desired, any associated hotel or transportation accommodations. The client can make reservations over the telephone (800 number) or in person at any travel agency after being properly identified, e.g., through the use of an identification card or the like. Thereafter, reservations are confirmed in writing and tickets may be delivered, if desired and if time permits.
The present invention uniquely tracks each client's cumulative travel usage for the purpose of authorizing travel requests and ensuring a predetermined minimum return on an initial investment base over time (e.g., a 50% return) as will be explained in detail below. Such variables as cumulative mileage, frequency of use and level of service (i.e., first class, coach, etc.) are translated into cumulative cost figures which are carefully tracked and compared with a "travel ceiling". The travel ceiling may be based on one or more system constraints taking into account such factors as air miles travelled, dollars expended, etc., to prevent fraud, misuse, or exploitation of the client's account and/or to provide the participant with a predetermined investment return. As used hereinafter, this ceiling represents a constantly varying reference baseline of maximum travel usage available to the client at any given time to stay on course to achieve an expected return on the initial investment. The air travel data processing system of the present invention monitors usage upon each reservation made by participating clients, and generates a monthly summary for each client declaring where the client stands with respect to the current "travel ceiling" at each instance.
The air travel data processing system of the present invention also tracks the cumulative growth of each client's investment in light of the client's cumulative usage. The client's initial investment is pooled with all other accounts and invested in a high-yield investment fund with flexible withdrawal privileges. The growth of this high-yield fund becomes the driving force against which the growth of each client's account is indexed. In this regard, the higher the prevailing interest rate, the faster each client's investment base will grow and the more the client may travel, while nevertheless staying on track to achieve a predetermined return on his initial investment base which thus ensures a predetermined reduction in the client's net travel costs. The data processing system of the present invention by uniquely indexing investment growth with travel services usage brings an added dimension to the travel services industry.